How popular Taraba entrepreneur got docked over alleged N300 million scam

By Nick Yashi, Jalingo

Facts have emerged on how popular Taraba based entrepreneur and blogger, Gabriel Olayinka, landed in trouble for a case of alleged "cheating, criminal breach of trust and criminal misappropriation" worth N300 million. 

The alleged scam have been the subject of discussion in the local social media space and among groups around the state due to the popularity of Olayinka, the victim and the magnitude of the money involved. 

Tarabans are in awe over the sudden news of the incarceration of the blogger who runs the popular, Taraba Business School, SUM TV and Taraba News.

Investigation by our reporter has shedded more light on the matter which might expose a local enterprise akin to a Ponzhi scheme as well as a legal tussle. 

Olayinka ran into trouble after, Mr Danladi Jubril, the Director of Finance, State High Court and owner of Grand Shield Hotel Jalingo, accused him of defrauding him of the sum of N300 million received in 2023.

According to lawyer to Jubril, Danladi Tukura Esq. Olayinka lured the business man into investing the large sum after an initial investment of N20 million which gave returns and boosted Jubril's confidence. 

"Olayinka, with criminal intent to defraud my client, did advertise a business investment to my client. A business which actually he was not carrying out. He lured my client, first into investing N20 million. From that N20 million, he was giving my client back little by little in the name of interest. When my client saw that he was getting something little from the investment, that gave him the courage and he fell prey to Olayinka:s gimmick to pay that wholesome amount of N300 million which he defaulted in paying back. 

"That default made my client to inquiring into the genuineness of the acclaimed business. My client later realised upon inquiry that the whole thing was just a scam. Olayinka collected that money and misapproprieted it for his own use. It was not actually used in giving out loans. 

"So that discovery made my client to write to Olayinka a notice of termination of the investment and now recalled the capital sum of N300 million and the interest therefrom and that was in terms with what they agreed. 

"in the course of carrying out civil transaction, crimes are committed. If i, with criminal intent defraud you of your money, i now come to you in disguise that i want to collect loan from you and you gave me and i ran out of the country, is that not criminal?" the lawyer queried. 

Tukura also revealed how Olayinka failed several agreements for settlement to the extent of avoiding his client and others who were part of the settlement.

According to him, Olayinka lavished the money on properties and an extravagant lifestyle before he was apprehended by the police in his hiding place in Jalingo some days ago. 

"Olayinka, now instead of paying back the money, wrote a reply to my client: begging him that he cannot afford to pay the whole money at once but that he would pay in monthly instalments of N20 million. My client was not at home with that arrangement, which led to a meeting  between Olayinka, his lawyer, myself and an elder, Rebo Usman. We sat down, deliberated on how this money will come out. Olayinka pleaded for N20 million payment per month. But we finally agreed that he would be paying N50 million every two months. 

"The payment was to commence in the first week of June. As we speak, Olayinka has not remitted one naira. He refused to pay this money and when the first date for payment reached, he started giving excuses and the story keep changing like Chameleon. And the next thing, he blocked my client's number. He blocked that of Rebo Usman and everyone. He knew his action cannot go without repercussion. He just eloped. He left the state!

"investigation revealed that he went to Ibadan. And out of this money, we were told that he bought a house. He renovated his brothers house and he bought a house for his sister. 

"For almost three months, he has been sleeping in Duchess hotel which cost N30,000 per day. This is the channel through which he squandered the money and also used it to establish his media outfit (SUM TV). 

"We applied for warrant of arrest. On that application, the court issued an order directing the Commissioner of Police to arrest him.

"Olayinka was traced to Inland hotel and arrested on the 22 day of this month. He was brought to court by the police,"

Tukura further revealed. 

The lawyer disclosed that Olayinka would be sued for "cheating, criminal breach of trust and criminal misappropriation".

The lawyer also stated that there wont be any settlement unless Olayinka commits a reasonable amount of money which from all indications the accused might be unable to raise easily. 

"I and PD Pius appeared before Justice Lawan Jika. The case was mentioned. Even before the case was mentioned, PD Pius and Olayinka called me and were pleading for an out of court settlement. I now told them that you failed in the first settlement, the second settlement you failed; what makes you think that the third settlement would not fail? 

"My client is a human being, not only that, he is humane. He can listen to your plea if you have something tangible on ground (like N50 million). But they are talking of N10 million and that he will be paying N5 million every month. That would take like four years to complete, " he stated. 

Our reporter asked the lawyer to clear the air about speculations going round that the money was laundered money to which he responded; "the court is not a court of speculation, it is a court of evidence. Anyone who has evidence that the money is laundered money, he can approach the court. My client is a big time business man".

Meanwhile, lawyer to Olayinka, PD Pius Esq. dismissed the claim that his client has committed any offence, preparing the ground for a potential legal battle.

He also said his client has been faithful in repaying the loan up to N100 million. 

"The Director of Finance, Taraba state High Court, Mr Danaldi Jubril put N300 million in a money lending business. We don't know where he got the money from.

"He put it in Super Cash where they also give out to other borrowers. In the course of the transaction, he was able to pay back N100 million or thereabout. 

"Unfortunately, most of the people he gave out money to started defaulting. And the man grew impatient and claimed that Gabiel Olayinka defrauded him. 

"He took him to an Area Court judge who ordered that he be remanded in prison with conditions that even the Supreme Court has never given; that he should deposit N200 million, bring two Permanent Secretaries with landed properties worth N500 million with C of O. 

"Debt recovery is not a criminal offence. Kefas has borrowed. Dangote, Otedola are debtors. Who has taken them to court? Because he is in a position of authority, he can order judges on what to do," Pius stated. 

As the controversy stirs further, Olayinka has proceeded to the Federal High Court to enforce his fundamental human rights.